EV stock under Rs 60 in focus as company announces HyperDelivery; rolls out same-day registration and delivery of vehicles
As of December 2024, the shareholding pattern, Hyundai Motor Company own a 2.47 per cent stake in Ola Electric Mobility Ltd.
Ola Electric Mobility Limited, India's largest pure-play electric vehicle (EV) company, has announced a groundbreaking initiative called #HyperDelivery, which offers same-day registration and delivery of vehicles. This innovative service, currently piloted in Bangalore, will be expanded across India within the quarter. The initiative leverages artificial intelligence (AI) to automate the registration process, eliminating middlemen and significantly reducing processing time.
This strategic move aims to enhance the customer experience by providing a seamless and efficient purchase journey. A spokesperson from Ola Electric stated, "We have significantly cut the processing time of registering the vehicles through AI-led automation and by moving the registration process completely in-house." This development marks a significant transformation in the automotive segment, bringing a quick-commerce-like experience to vehicle purchases.
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About the Company
Ola Electric Mobility Limited is a prominent Indian EV manufacturer renowned for its vertical integration of technology and manufacturing. The company's flagship, the Ola Futurefactory, is a state-of-the-art facility producing EVs and key components like battery packs, motors, and frames. Ola's global R&D efforts, spanning India, the UK, and the US, drive innovation in EV products and core components. The company is also establishing a comprehensive EV hub in Tamil Nadu, comprising the Future Factory and the upcoming Gigafactory. This hub is complemented by the Bengaluru-based Battery Innovation Centre, which is dedicated to advancing cell and battery technology. Ola's direct-to-customer distribution network, encompassing over 750 stores and a robust online presence, positions it as the largest company-owned automotive experience centre network in India.
As of December 2024, the shareholding pattern, Hyundai Motor Company own a 2.47 per cent stake in Ola Electric Mobility Ltd. The company has a market cap of over Rs 23,000 crore and stock is trading below Rs 60 per share. Investors should keep an eye on this EV stock.
Disclaimer: The article is for informational purposes only and not investment advice.